A pharmaceutical company, Elite Pharmaceuticals, Inc., develops and manufactures pharmacological opioid medicines with abuse-deterrent properties. The corporation has two sections: New Drug Applications (NDA) and Abbreviated New Drug Applications (ANDA). The ANDA section contains generic medications. The NDA category includes brand-name medications. Its headquarters are in Northvale, NJ. It was established on October 1st, 1997.
ELTP Stock Profile
The stock has been trading at 0.031 as of January 7th, 2023, representing a 3.33 percent gain since the start of the trading day. The stock last recorded a low of 0.0293. We use our scoring system to determine Elite Pharma’s daily equity ratings based on a 4% probability of experiencing financial hardship over the next two years. However, its performance over the last 90 days could have been better. Performance scores were calculated for the period beginning on October 9th, 2022, and ending today, January 7th, 2023.
ELTP Stock Highlights and Ownership
Most rational investors perceive market volatility as a chance to buy at a favorable price or to sell short against negative trends. Elite Pharma investment highlights automatically generate signals to support or contradict your investment decision. By understanding the position you are entering and avoiding expensive errors, you may be able to prevent costly mistakes.
The NASD’s electronic over-the-counter facility allows ELTP Stock to be traded. As defined by the Fama and French classification systems, Elite Pharma is classified as a Pharmaceutical. A company’s market capitalization is currently $31.94 million, placing it in the ‘Micro-Cap’ category. Typically, market capitalization refers to the total value of its shares.
Elite Pharma’s market is calculated by multiplying the number of shares issued by its current market price. Many investors construct diversified securities portfolios with varying market capitalizations to minimize market risk and economic uncertainty. Elite Pharma operates within the Pharmaceuticals area of the Health Care industry, and cautious investors prefer large-cap companies. Risk-seeking investors prefer small- and mid-cap companies.
There are 1.01 billion shares outstanding at the company, of which 757,007 are short, requiring about 0.87 trading days to cover. As a result, Elite Pharma has around $19.78 million in cash and $6.51 million in positive cash flow from operations. As a result, the cash-per-share ratio is 0.02.
No matter who owns a business, you may not be able to generate positive returns over time if its underlying worth is less than what the market is planning to pay for it. Public ownership consists of 82.41%, followed by insider ownership of 17.53%.
ELTP Stock Assessment
Elite Pharma’s probability density function indicates the likelihood that Elite Pharma’s OTC stock will occupy a given price range. In a 90-day investment horizon, Elite Pharma’s beta of 0.0306 suggests that its average returns will grow less than the market’s.
However, the predicted loss from owning Elite Pharma will be significantly smaller in a down market. Additionally, the firm has an alpha of 0.16, which indicates that, after correcting for the inherent market risk, it may provide a 0.16 percent excess return above the NYSE Composite.